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Eurozone Industrial Production fell by 1.2%

Wednesday, Jul 13 2016
In May 2016 compared with April 2016, seasonally adjusted industrial production fell by 1.2% in the euro area (EA19) and by 1.1% in the EU28, according to estimates from Eurostat, the statistical office of the European
Union. In April 2016 industrial production rose by 1.4% in the euro area and by 1.5% in the EU28.In May 2016 compared with May 2015, industrial production increased by 0.5% in the euro area and by 1.1% in the EU28. 
The decrease of 1.2% in industrial production in the euro area in May 2016, compared with April 2016, is due to production of energy falling by 4.3%, capital goods by 2.3%, durable consumer goods by 1.4%, intermediate goods by 0.4% and non-durable consumer goods by 0.1%. In the EU28, the decrease of 1.1% is due to production of energy falling by 3.3%, capital goods by 2.0%, durable consumer goods by 0.7%, intermediate goods by 0.5% and non-durable consumer goods by 0.3%.
 
Euro is currently being traded few points below 1.11 level. Pair is likely to find support around 1.1050 handle and resistance above 1.1130 level.
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